Tamarack Valley Energy (TSE:TVE) Issues Earnings Results

Tamarack Valley Energy (TSE:TVE) posted its quarterly earnings data on Tuesday. The company reported C$0.43 EPS for the quarter, FiscalAI reports. Tamarack Valley Energy had a negative return on equity of 5.03% and a negative net margin of 6.60%.The firm had revenue of C$493.95 million during the quarter.

Tamarack Valley Energy Stock Performance

Shares of TVE stock opened at C$12.93 on Tuesday. Tamarack Valley Energy has a one year low of C$5.18 and a one year high of C$14.03. The company has a debt-to-equity ratio of 38.89, a quick ratio of 0.80 and a current ratio of 0.69. The company has a 50 day moving average price of C$12.88 and a 200 day moving average price of C$11.31. The firm has a market capitalization of C$6.18 billion, a price-to-earnings ratio of -71.83 and a beta of 0.33.

Tamarack Valley Energy Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Tuesday, June 30th were issued a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date was Monday, June 15th. Tamarack Valley Energy’s payout ratio is presently -86.62%.

Insiders Place Their Bets

In other news, Director Rene Amirault bought 78,500 shares of the business’s stock in a transaction that occurred on Wednesday, June 3rd. The shares were acquired at an average cost of C$13.09 per share, with a total value of C$1,027,565.00. Following the transaction, the director owned 454,602 shares of the company’s stock, valued at C$5,950,740.18. This represents a 20.87% increase in their position. Also, Director Shannon Joseph bought 27,521 shares of Tamarack Valley Energy stock in a transaction that occurred on Tuesday, June 16th. The stock was purchased at an average price of C$12.56 per share, for a total transaction of C$345,663.76. Following the acquisition, the director directly owned 66,376 shares of the company’s stock, valued at C$833,682.56. The trade was a 70.83% increase in their position. 1.32% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several equities research analysts have issued reports on TVE shares. Roth Capital set a C$15.00 price target on shares of Tamarack Valley Energy and gave the stock a “buy” rating in a research note on Tuesday, May 19th. Desjardins set a C$16.00 price objective on shares of Tamarack Valley Energy and gave the company a “buy” rating in a research note on Friday, July 17th. Royal Bank Of Canada raised their target price on shares of Tamarack Valley Energy from C$11.00 to C$12.00 and gave the stock an “outperform” rating in a research report on Monday, April 13th. Canaccord Genuity Group raised shares of Tamarack Valley Energy from a “hold” rating to a “buy” rating and lifted their target price for the stock from C$12.00 to C$15.00 in a research note on Friday, May 29th. Finally, Canadian Imperial Bank of Commerce boosted their price target on Tamarack Valley Energy from C$14.25 to C$15.25 and gave the company an “outperformer” rating in a report on Friday, May 29th. Nine analysts have rated the stock with a Buy rating, According to MarketBeat, Tamarack Valley Energy currently has an average rating of “Buy” and an average price target of C$13.28.

Tamarack Valley Energy Company Profile

Tamarack Valley Energy Ltd. engages in the acquisition, exploration, development, and production of oil, natural gas, and natural gas liquids in the Western Canadian sedimentary basin. It primarily holds interests in Cardium light oil plays in Wilson Creek/Alder Flats/Pembina, and Garrington and Lochend areas in Alberta; Viking light oil resource plays in Redwater and Westlock in Alberta, as well as in the Consort area of southeast Alberta and Hoosier area of southwest Saskatchewan; Barons Sands light oil plays located in the Penny area of Southern Alberta; and heavy oil properties located in Hatton area of Saskatchewan.